If you suspect your organization has a product management problem,
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process can help you find your GAP areas, identify ways to fix them, and put your company on the right path to high performance product management.

Many executives make the mistake of thinking of product management roles as tactical functions, so they hire or promote people who are task-oriented and internally focused — doers and tinkerers, rather than thinkers and planners.

The best product managers are marketers and strategists.

Instead of asking, “What can I do to the product?” the right people in product management roles ask, “What can I do to capture the customer?” They are leaders who function as entrepreneurial CEOs of their product offering with the responsibility for managing revenue and profitability. And they are planners capable of managing the product portfolio throughout the life cycle from innovation to end of life.

Product management is a discipline requiring product managers to be strategic in nature and to embrace long-term, market-based thinking and planning. It’s not uncommon for organizations to involve product managers in activities that are not conducive to their primary role. When this occurs, product managers may fall into the trap of becoming tactical, internally focused, reactive managers.

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Get the Max from your product portfolio management when you think “Strategy Integration”

Managing a product portfolio is like managing an investment fund.

Product management is more than simply managing individual products or product development projects. It’s about managing the entire mix of product investments the company makes with the ultimate goal of achieving a balanced portfolio. The principle concern is to develop a healthy portfolio, with the right balance in terms of existing and new products, long-term and short-term projects, high-risk versus low-risk projects, product diversification across markets, technologies, categories and product types.